Many left-leaning politicians have complained that Wall Street executives got off the hook for the financial crisis...

Roughly $24.0 billion of home-equity lines-of-credit and second mortgages were originated during 2Q, up 23.1 percent from the first three months of the year.

Former Fannie executive Tim Rood, now chairman and founder of the Collingwood Group, said "the current posture by the administration is pretty indefensible.”

All issuers must comply with the revised requirements, which take effect immediately, in order to remain an eligible participant in the Ginnie Mae program.

It is unclear how many developments have expired approvals but the number could be significant, Shrum said.

Coester filed suit against the Virginia Real Estate Appraiser Board, charging that the regulator is engaged in “a conspiracy to restrain and monopolize trade” and is operating in violation of antitrust laws.

Warehouse executives seem optimistic about the immediate outlook for the sector, though some expressed concern how a wave of M&A activity has reduced the number of potential clients.

The CFPB’s QM standards currently don’t differ for loans held in portfolio or sold to other outlets.

M&T Bank Settles Allegations It Used ‘Neighborhood Racial Criteria’ for Mortgage Product. A court approved M&T Bank's settlement with the Fair Housing Justice Center under which the Buffalo, NY-based bank will pay $485,000 while agreeing to revise its residential origination policies. The nonprofit FHJC filed a lawsuit in February after investigating the bank’s “Get Started Program.” The mortgage product is aimed at homes in “majority minority” neighborhoods or in low- or moderate-income areas. The product is for first-time homebuyers and it allows for low downpayments and the ability to finance closing costs. The FHJC found that M&T loan officers discriminated against potential borrowers based on race and national origin, alleging violations of the Fair Housing Act. Among other issues, minority ...

FDIC Official Calls for Broader QM Parameters. Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig recently came out in support of congressional legislation to expand the kinds of loans that can be deemed qualified mortgages under the CFPB’s ability-to-repay rule. However, with Congress coming back from its annual August recess this week, the biggest hurdle facing such measures may be whether lawmakers feel enough urgency to act by year’s end. Among other provisions, Hoenig called for mortgages held in portfolios of certain banks to be defined as QMs and receive the protections established by the bureau for such mortgages. To qualify, under Hoenig’s proposal, banks would have to be “more traditional” institutions that emphasize the core commercial banking model and ...